UNFAZED:Brazilian authorities ruled two Taiwanese firms sold PET resins at unfairly low prices in the Latin American country and imposed an anti-dumping tariff

Taipei Times
Date: Dec 05, 2016
By: Staff writer, with CNA

Nan Ya Plastics Corp (南亞塑膠) yesterday said an anti-dumping penalty tariff imposed by Brazil over the company’s polyethylene terephthalate (PET) resin does not pose any impact on the company’s financial condition or its operations.

The company said in a Taiwan Stock Exchange filing that PET resin is among several items produced by the company, but it is produced in very small amounts compared with other products, accounting for merely 0.08 percent of its overall shipments to Brazil in 2014.

PET resin is a raw material commonly used to produce soda, juice and cooking oil containers. The material is also used for a wide range of other products, such as audio and video disks and cinematic film stock.

The company’s remarks came after Brazilian authorities last month ruled Nan Ya and another Taiwanese chemical firm, Lealea Enterprise Co (力麗化纖), sold PET resins at unfairly low prices in the Latin American country, which would subject them to an anti-dumping tariff of 52.1 percent, a level which had been stated in a preliminary ruling by Brazil’s Council of Chamber of External Commerce (CAMEX).    [FULL  STORY]